Short Interest in Gravity Co., Ltd. (NASDAQ:GRVY) Decreases By 8.5%

Gravity Co., Ltd. (NASDAQ:GRVY) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 33,300 shares, a decrease of 8.5% from the November 30th total of 36,400 shares. Based on an average daily trading volume, of 30,500 shares, the days-to-cover ratio is presently 1.1 days.

Gravity Trading Down 0.1 %

Shares of GRVY stock traded down $0.09 during mid-day trading on Wednesday, reaching $63.11. The stock had a trading volume of 27,411 shares, compared to its average volume of 32,371. The company has a market cap of $438.55 million, a P/E ratio of 7.03 and a beta of 1.32. Gravity has a 12-month low of $57.37 and a 12-month high of $88.85. The business has a 50-day simple moving average of $65.11 and a 200 day simple moving average of $67.61.

Hedge Funds Weigh In On Gravity

Hedge funds have recently added to or reduced their stakes in the business. Pekin Hardy Strauss Inc. purchased a new stake in shares of Gravity in the third quarter valued at about $2,977,000. Apis Capital Advisors LLC raised its position in shares of Gravity by 88.9% during the 2nd quarter. Apis Capital Advisors LLC now owns 17,000 shares of the technology company’s stock worth $1,373,000 after purchasing an additional 8,000 shares during the last quarter. Caprock Group LLC purchased a new stake in Gravity in the 2nd quarter valued at approximately $394,000. BNP Paribas Financial Markets grew its holdings in Gravity by 12.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,137 shares of the technology company’s stock valued at $1,609,000 after buying an additional 3,030 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Gravity during the third quarter worth $117,000. 9.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised Gravity from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th.

Gravity Company Profile

Gravity Co, Ltd. develops and publishes online and mobile games worldwide. It offers a massively multiplayer online role-playing game, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Landverse. Its mobile games portfolio includes Ragnarok M; Eternal Love; Ragnarok Origin; Ragnarok X: Next Generation; Ragnarok Arena; WITH ISLAND; the Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; Milkmaid Of The Milky Way; Generation Zombie; Ragnarok Idle Adventure; Ragnarok 20 Heroes; White Chord; WITH: Whale In The High; Ragnarok Lost Memories; and Paladog Tactics.